Government Hikes Pension Payouts For Families Of Bank Employees To 30%

The government has increased the family pension of bank employees to 30 per cent of the last salary drawn, in a move that would hike the pension payout to as much as Rs 30,000 to Rs 35,000 per family of bank employees. Earlier, the cap was fixed at Rs 9,284 crore, said Mr Debashish Panda, Finance Secretary at a press conference addressed by Finance Minister Nirmala Sitharaman held earlier today in Mumbai.